Crude oil production from members of OPEC is expected to fall to below 30.73 million barrel per day by the end of this year, the group's lowest monthly output since February 2015, the US Energy Information Administration said Tuesday.
In its Short-Term Energy Outlook, EIA said OPEC members...
Natural gas prices spiked on Monday as the market gained confidence that the severe cold gripping the United States will persist longer than previously thought, driving up heating demand and taxing gas stockpiles.
Front-month Henry Hub natural gas futures for February rose more than 13% on...
Major Japanese banks are set to resume Iranian oil transactions after receiving final regulatory clearance, paving the way for the country's refiners to begin loadings as early as this month, sources with direct knowledge of the matter told S&P Global Platts Tuesday.
The Japanese banks will...
OPEC plans to publish this week quotas for individual countries under the new OPEC/non-OPEC production cut deal agreed upon on December 7 and in force since January 1, an OPEC source told Russian news agency TASS on Monday.
The publishing of the quotas for each country could help overcome the...
Oil slipped to around $60 a barrel on Monday after data showed weakening imports and exports in China, the world’s second-largest oil consumer, raising the prospect of a slowdown in fuel demand.
China’s exports fell by the most in two years in December while imports contracted, official figures...
A South Korean oil buyer is set to receive about 2 million barrels of Iranian condensate in January, a source familiar with the matter said on Monday.
The cargo marks the first Iranian oil import by South Korea in four months after the world’s fifth-largest oil buyer halted imports before the...
Wind, natural gas, and solar capacity will lead the new electricity capacity in the United States this year, while coal-fired generation will account for more than half of scheduled capacity retirements, the US Energy Information Administration said in its latest inventory of electric generators...
Iraq plans to raise output from its southern Majnoon oilfield to 290,000 barrels per day by the end of 2019 and to 450,000 bpd by the end of 2021 from a current 240,000 bpd, the director of Basra Oil Company said.
Ihsan Abdul Jabbar, in an interview with Reuters on Saturday, said Iraq’s southern...
Going into 2019, China's gasoline demand growth will be capped by a slowing economy, falling car sales, growing fuel efficiency and the inevitable electrification of road transport.
These risks to transportation fuel demand in the world's second-largest economy have implications for the crude...
Top oil exporter Saudi Arabia plans to lower its shipments further in February as it follows through on a global deal to cut output to prevent a build-up in supplies.
Saudi Energy Minister Khalid al-Falih told a news conference in Riyadh on Wednesday that the kingdom would export 7.1 million...